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The PNC Solution Loan for Health Professions Residency is a private student loan offering a convenient way to pay for expenses related to your medical residency program including interview, relocation and living expenses.
Who It's For: MD, DDS, DO and DVM residents
If you are unfamiliar with terminology you encounter while reviewing information about our higher education private student loans, we've created a glossary of terms to assist you.
View Glossary of Terms »
You may choose from immediate repayment, interest-only payments or full deferral while enrolled. Full principal and interest payments begin 180 days after you cease to be enrolled in a medical residency or internship. Interest will continue to accrue through any deferment and is capitalized at repayment.
You and your co-signer, if any, must:
You or your co-signer, if any, must:
$0 while in school
$67 after graduation
The PNC Education Loan Center is grateful for your service and we would like to help you understand your benefits and protections under the Servicemembers Civil Relief Act (SCRA).
The SCRA provides eligible service-members with financial relief and protections that apply to private and federal student loans. They may enable you to:
PNC will also apply benefits and protections on eligible accounts, including:
For questions about these banking products, please contact:
Phone: 1-844-PNC-SCRA (844-762-7272)
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When you are applying for a PNC Solution Loan, you will be transferred to the website of one of our service providers. A list of information required to successfully complete your application will be provided during the application process. Borrowers and co-signers will need personal and income information including a driver’s license or state ID. All borrowers will need their financial aid award letter.
During repayment, an interest rate reduction of 0.50% is available for automated payments once you are no longer attending school on at least a half-time basis. You must be making scheduled payments through servicer American Education Services (AES) that include both principal and interest from your checking or savings account. If automatic payment is discontinued, you will no longer receive an automatic payment discount. Discount may be suspended during periods of forbearance. A federal regulation limits the number of transfers that may be made from a savings or money market account. Please contact your financial institution for more information on transfer limitations on savings accounts.
A request to release a co-signer requires that, as of the date of the request, you have made at least forty-eight (48) consecutive timely payments of principal and interest with no periods of forbearance or deferment within the forty-eight (48) month timeframe. “Timely payment” means each payment is made no later than the 15th day after the scheduled due date of the payment. “Consecutive payment” means the regularly scheduled monthly payment must be made for forty-eight (48) months straight without any interruption. To qualify for a co-signer release, the borrower must submit a request, meet the consecutive, timely payment requirements, provide proof of income and pass a credit check.
View important disclosure and repayment information for the PNC Solution Loan for Health Professions Residency. Residency loan range: $1,000 to $15,000. Maximum aggregate educational debt (including both federal and private student loans): $225,000. Applicants may call the PNC Education Loan Center to confirm school eligibility.
Interest will continue to accrue during periods of deferment. You will receive quarterly interest statements during this deferment period. Paying the interest as it accrues each quarter will save you money over the repayment term of the loan because any accrued interest that you do not pay will be added to the principal balance at the end of the deferment period.
PNC reserves the right to discontinue any or all terms of this program at any time without notice. Loans may be sold to other financial organizations; however, the interest rate and term of the loan will not change if a loan is sold. PNC Solution Loans are subject to credit approval.
You are encouraged to explore all scholarship, grant and federal borrowing options before applying for a private loan.
PNC does not provide accounting, tax or legal advice. Any calculators provided are intended for educational and estimation purposes only, and their accuracy is not guaranteed. The calculators, and any results displayed, do not constitute the advice of, or reflect actual products, services, rates and/or terms available from PNC Bank or its affiliates, and nothing contained in the calculators shall constitute an offer or solicitation of a product or service by PNC Bank or its affiliates.